Life Insurance Basics
What happens to life insurance when you retire?
When you retire, your life insurance needs may change. If your children are grown and your mortgage is paid off, you may need less coverage. If you have a permanent life policy, the cash value can supplement retirement income. Group life insurance from your employer typically ends at retirement.
Key Points
- Retirement: life insurance needs may decrease
- Children grown and mortgage paid: may need less coverage
- Permanent life policy: cash value can supplement retirement income
- Group life insurance: typically ends at retirement
- An independent agent can help you review your coverage at retirement